Related buying up its own supply at Carnegie Park

That’ll help with sales. Entities controlled by three top executives at the Related Companies closed on five condominium units totaling $9.7 million at Carnegie Park, the developer’s 325-unit conversion at 200 East 94th Street. According to public records filed with the city Friday, firm president Bruce Beal Jr., chief executive Jeff Blau and senior vice […]

Buyer scoops up $50M penthouse at Related’s 70 Vestry

A mystery buyer has inked a deal to purchase a penthouse at Related Companies’ 70 Vestry Street that was listed for $50 million. The triplex pad — which will span the top three floors of the under-construction, 14-story building — was asking $7,637 per square foot. When completed, the 6,547-square-foot pad will have two terraces […]

Related, Oxford nab $195M in tax breaks for 50 Hudson Yards

The taxman cometh, but not for Related Companies and Oxford Properties Group’s 50 Hudson Yards. The developers will receive $195 million in tax breaks from the city for their planned $4 billion office tower. The Industrial Development Agency agreed to allow the developers to make fixed payments in lieu of paying property taxes, Crain’s reported. […]

Related, Oxford score $1.2B loan for 35 Hudson Yards

Related Companies and Oxford Properties group have landed a $1.2 billion loan to build 35 Hudson Yards. The Children’s Investment Fund, a U.K.-based hedge fund, provided the debt for the 1,000-foot tall mixed-use tower, the developers said in a release Thursday. The loan covers part of the tower’s $2 billion price tag, which is also […]

Related in talks to buy Astoria affordable portfolio for $115M

Stephen Ross with the Marine Terrace portfolio in Astoria. The Related Companies is in talks to buy a 444-unit Section 8 multifamily property with development rights in Astoria for $115 million, its latest move to add to a giant affordable housing portfolio. Related, which got its start in the 1970s buying and rehabilitating affordable housing, […]

Hudson Yards fail: Related accidentally touts competitor in glossy Times ad

Related’s ad in the Times, with a photo from a fashion event at WTC on the top right. Click to enlarge It ran in Sunday’s New York Times, a double-page glossy insert touting all the benefits of Related Companies’ Hudson Yards and the Far West Side neighborhood it’s given birth to. There was a bit of […]

The only NYC penthouse designed by late Zaha Hadid hits the market

Rendering of the penthouse at 520 West 28th Street (inset: Zaha Hadid) As the only New York City penthouse Zaha Hadid will ever design, 520 West 28th Street’s triplex may seem priceless. But it is now available — for $50 million. The Related Companies announced Monday that the triplex penthouse at 520 West 28th Street is […]